Blue Owl Technology Income Corp.: debt financing — Blue Owl Technology Income Corp. issues $100M of 8.25% Senior Notes due 2026

Blue Owl Technology Income Corp.

$100M aggregate principal of Series 2023A Notes priced at par, fixed 8.25% interest, due July 6, 2026.
Interest payable semiannually on Jan 6 and Jul 6, beginning Jan 6, 2024.
Notes are unsecured and rank pari passu with existing unsecured unsubordinated debt; guaranteed by three subsidiaries.
Covenants include minimum net worth of $347.1M and asset coverage ratio of 1.50:1.00; step-up interest triggers on below-investment-grade or secured debt ratio events.
Proceeds used for general corporate purposes; notes redeemable at par plus make-whole premium at company's option.

item 1.01 item 2.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Blue Owl Technology Income Corp. incurred senior notes of $100,000,000 at 8.25% per year maturing July 6, 2026.

Instrument: senior notes
Principal: $100,000,000
Rate: 8.25% per year
Maturity: July 6, 2026
Event: incurrence

Exact text from the filing

On July 6, 2023, Blue Owl Technology Income Corp. (the “Company”) entered into a Master Note Purchase Agreement (the “Note Purchase Agreement”) governing the issuance of $100,000,000 in aggregate principal amount of Series 2023A Notes, due July 6, 2026, with a fixed interest rate of 8.25% per year (the “Series 2023A Notes”), to qualified institutional investors in a private placement.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Blue Owl Technology Income Corp. entered into Master Note Purchase Agreement with qualified institutional investors valued at $100,000,000 (effective 2023-07-06).

Action: entry
Agreement: notes offering
Counterparty: qualified institutional investors
Value: $100,000,000
Effective: 2023-07-06

Exact text from the filing

On July 6, 2023, Blue Owl Technology Income Corp. (the “Company”) entered into a Master Note Purchase Agreement (the “Note Purchase Agreement”) governing the issuance of $100,000,000 in aggregate principal amount of Series 2023A Notes, due July 6, 2026, with a fixed interest rate of 8.25% per year (the “Series 2023A Notes”), to qualified institutional investors in a private placement.

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Source: SEC EDGAR

accession 0001193125-23-183828

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